AUSTIN, Texas — The Travis Central Appraisal District is taking a closer look at the value of Tesla’s headquarters, east of Austin, after the company protested their property appraisal, knocking off more than $1 billion of its value.
In July, the TCAD appraised that facility at $4.6 billion. After protesting, an appraisal review board returned with a new property value for the Gigafactory of $3.4 billion.
On Thursday, the Travis Central Appraisal District Board of Directors voted to authorize the chief appraiser to file a lawsuit against Tesla. That authorization does not automatically create a lawsuit though, it just gives the board the authority to move forward with one if they choose to…